After rebounding a bit in 2016, emerging markets stocks and exchange traded funds are following through in a big way in 2017 as highlighted by a year-to-date gain of almost 24% for the iShares MSCI Emerging Markets ETF (NYSEArca:EEM).

On a technical basis, the widely followed MSCI Emerging Markets Index, the benchmark tracked by EEM, is breaking out of a 10-year downtrend. Oppenheimer’s Ari Wald notes this ““not only carries significance for the future direction of EEM’s trend — we think higher — but also for the cyclical recovery as well because broadening global participation remains a focal point to our outlook,” according to Seeking Alpha.

That also bodes well for the iShares Core MSCI Emerging Markets ETF (NYSEArca:IEMG), the low cost alternative to EEM. IEMG has added $11.1 billion in new assets this year, a total exceeded by just two other ETFs. IEMG is the top asset gatherer among US-listed emerging markets ETFs.

Underscoring the strength in emerging markets ETFs, 10 such funds hit all-time highs Wednesday. Roughly 70 of the ETFs in the new 52-week high club, including EEM and IEMG, were emerging markets funds.

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